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Uranium One reports 7% production decline in 2020

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(Kitco News) - Uranium One, an international uranium mining company of the Russian state corporation Rosatom with uranium producing assets in Kazakhstan, announced today its operational results for Q4 and full-year 2020.

The company’s attributable production from its projects in Kazakhstan during the twelve months ended December 31, 2020 was 11.12 million lbs of U3O8 (4,276 tU), a 7% decline over 2019 (12 million lbs).

Uranium One said that the production from all mines in Kazakhstan was 23%-31% lower than the production capacity “due to the impact of unfavorable uranium market conditions and of the COVID-19 outbreak.”

The company sold 11.8 million pounds of U3O8 in 2020 at an average price of $30.5/lb of U3O8, which is 2% less than in 2019 (12.1 million pounds at $28/lb).

Uranium One is one of the world’s largest uranium producers with a diverse portfolio of assets worldwide, including Kazakhstan, the United States, Tanzania, Namibia and other countries. Uranium One is currently producing uranium in Kazakhstan from Akdala, South Inkai, Karatau, Akbastau, Zarechnoye and Kharasan mines.

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